Private equity battles for Office

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The Independent Online

Several private equity investors are through to the second round of bids for Office, the shoe chain owned by the Scottish entrepreneur and philanthropist Sir Tom Hunter.

PAI Partners, Silverfleet Capital and Blackstone are battling to acquire Office, which has 124 shops, while at least one other unnamed party is also in the frame. Second-round bids are due next month and the chain could fetch £200m. The buyout firms Permira and Barclays Private Equity looked at bidding for Office but are no longer interested. All of the companies refused to comment.